PLACERVILLE, CA, Dec. 9, 2014 /CNW/ - iMD Companies, Inc. (OTC:ICBU) today announced that Integrated Medical Diagnostics will award all common shareholders of IMD Companies Inc., a one for one dividend.
The iMD board of directors and Integrated Medical Diagnostics have approved the final 1:1 distribution ratio of dividend shares, which will result in the complete legal and structural separation of the two companies.
All Shareholders of record as of close of trading on February 28, 2015, will be eligible to receive a private stock dividend of one share of Integrated Medical Diagnostics for every share of ICBU common stock that a shareholder owns. The dividend will be awarded to all shareholders of record of ICBU stock. The actual distribution of the shares of Integrated Medical Diagnostics stock to ICBU shareholders will come approximately 30 days after the shareholder record date. All information about how to receive your dividend from Olde Monmouth Stock Transfer agent will be given prior to the shareholder record date of February 28, 2015 in the form of a press release or information on our website to shareholders.
For example if an ICBU shareholder owns 100,000 shares of ICBU through the shareholder record date of February 28, 2015 then that shareholder will be eligible to receive 100,000 private shares of Integrated Medical Diagnostics. If a shareholder of ICBU sells his or her shares on or before the February 28, 2015 record date then that shareholder will not be eligible to receive the dividend.
"The benefit of this spin-off is twofold for our shareholders," stated Larry Robertson President of iMD. "The company will eliminate debt from the spin-off which will make the company more profitable and our shareholders will receive dividend shares. "
FINRA has been notified and paid regarding the spin-off of Integrated Medical Diagnostics. IMD is waiting for the final approval from FINRA regarding the spin-off and dividend.
About iMD Companies, Inc.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the manufacturing, marketing, and distribution of equipment for the hydroponics industry. The company has recently re-positioned to be a holding company for acquisitions in the Hydroponics industry. Recent acquisitions in those areas are majority interest in R-Quest Hydroponics Inc. from Anything Technologies Media (OTC:EXMT) and Lumz'n Blooms, Ltd., a Manufacturer of Indoor Gardening and Hydroponics Equipment. The company and principals of the management team has extensive backgrounds in finance, manufacturing, marketing and distribution. iMD's goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new businesses and create other business alliances, which generate increased revenues and earnings. www.imdcompanies.com
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics, Inc., is a Hardware and Software Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc. has developed the new Environmental Master Controller EMC-5000 system, which is able to provide constant management for grow room facilities for indoor gardens. The EMC-5000 was developed so that growers can rest easy with the confidence that their crop is in excellent hands. The EMC-5000 is able to regulate and control all aspects of an indoor grow system, including Light cycles to optimize growth, Fans, Nutrient pumps, and CO2 level controls to help manage grow rooms. To see more information on the EMC-5000 go to www.r-questhydro.com.
Safe Harbor Statement
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE: IMD Companies, Inc.
For further information: PACIFIC EQUITY ALLIANCE LLC, Investor Contact: Zachary R. Logan & Drew S. Phillips, Tel. 858.886.7237 / 858.886.7238 Email: [email protected]